Life and pensions standards body Origo is to develop a pensions register service to power providers’ ‘pensions dashboards’.
The service, designed to slot into firms’ customer portals, will allow customers to see all their pension policies in one place.
The FCA and Government are encouraging pension providers to develop the digital aggregation concept to help customers engage with their savings.
Last week, Money Marketing revealed the Department for Work and Pensions is to delay the roll out of the pot follows member model for pension transfers and could scrap it in favour of a dashboard developed by the private sector.
Origo managing director Paul Pettitt says: “Origo’s Pension Register Service will provide an index as to who holds what and where.
“The service will create a shared index that can be used by government agencies and companies – such as pension providers, platforms, third party administrators, employers, banks, tracing services – to provide their own dashboard capability direct to consumers that they have identified and authenticated as eligible for access.”
Origo is owned by most of the UK’s life companies, including Aegon, Aviva, Legal and General, Scottish Widows and Standard Life.